Petco Health and Wellness (NASDAQ:WOOF) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Petco shares moved above their 200-day moving average of $2.74, reaching $2.78 before closing at $2.72 on volume of about 1.47 million shares.
• Analyst sentiment remains mixed but centers on a “Hold” consensus; two analysts rate the stock Buy, eight Hold, and one Sell, with a consensus price target of $3.88.
• Insider Holly May sold 200,000 shares for approximately $508,000, while several institutional investors increased their holdings. Petco has a market capitalization of about $879.5 million and carries relatively high leverage, with a debt-to-equity ratio of 1.27.

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.74 and traded as high as $2.78. Petco Health and Wellness shares last traded at $2.72, with a volume of 1,471,054 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on WOOF. The Goldman Sachs Group lowered shares of Petco Health and Wellness from a "buy" rating to a "neutral" rating and set a $3.83 price objective for the company. in a research note on Monday, April 13th. Wall Street Zen upgraded shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a "sell (d)" rating on shares of Petco Health and Wellness in a report on Thursday, June 11th. Citigroup reduced their price target on shares of Petco Health and Wellness from $4.00 to $3.25 and set a "neutral" rating for the company in a research report on Thursday, June 4th. Finally, Zacks Research lowered shares of Petco Health and Wellness from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $3.88.

Petco Health and Wellness Price Performance

The firm has a 50-day moving average of $2.70 and a 200 day moving average of $2.74. The company has a market capitalization of $879.54 million, a PE ratio of 136.07, a PEG ratio of 3.03 and a beta of 1.54. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.29.

Insider Activity

In other news, insider Holly May sold 200,000 shares of the firm's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $2.54, for a total transaction of $508,000.00. Following the sale, the insider owned 1,327,867 shares of the company's stock, valued at $3,372,782.18. This trade represents a 13.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 450,000 shares of company stock worth $1,145,500. Company insiders own 6.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. boosted its holdings in Petco Health and Wellness by 12.8% in the second quarter. Sei Investments Co. now owns 26,055 shares of the company's stock worth $74,000 after purchasing an additional 2,951 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Petco Health and Wellness by 14.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,500 shares of the company's stock valued at $66,000 after buying an additional 2,988 shares during the last quarter. Bank of Nova Scotia raised its stake in Petco Health and Wellness by 27.8% during the 2nd quarter. Bank of Nova Scotia now owns 15,208 shares of the company's stock valued at $43,000 after buying an additional 3,308 shares during the last quarter. Creative Planning raised its stake in Petco Health and Wellness by 11.0% during the 3rd quarter. Creative Planning now owns 40,826 shares of the company's stock valued at $158,000 after buying an additional 4,047 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Petco Health and Wellness by 17.6% during the 2nd quarter. Cetera Investment Advisers now owns 28,419 shares of the company's stock valued at $80,000 after buying an additional 4,258 shares during the period.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc NASDAQ: WOOF is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.

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